Caisse de depot et placement du Quebec Buys Shares of 3,582,530 Coca-Cola Consolidated, Inc. $COKE

Caisse de depot et placement du Quebec bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,582,530 shares of the company’s stock, valued at approximately $291,152,000. Caisse de depot et placement du Quebec owned approximately 5.38% of Coca-Cola Consolidated as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of COKE. Vanguard Group Inc. lifted its position in shares of Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after purchasing an additional 341,374 shares in the last quarter. Catalyst Investment Management LLC purchased a new position in Coca-Cola Consolidated during the second quarter valued at approximately $573,000. Horizon Investments LLC increased its stake in Coca-Cola Consolidated by 1,655,666.7% in the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock valued at $7,602,000 after buying an additional 49,670 shares during the period. Vest Financial LLC increased its stake in Coca-Cola Consolidated by 60.8% in the 4th quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock valued at $35,657,000 after buying an additional 87,912 shares during the period. Finally, Argyle Capital Partners LLC purchased a new stake in Coca-Cola Consolidated in the 2nd quarter worth approximately $479,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

COKE has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $196.53 on Wednesday. The business has a 50 day simple moving average of $185.35 and a 200 day simple moving average of $186.58. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The stock has a market cap of $13.08 billion, a price-to-earnings ratio of 26.07 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.